EXHIBIT 99.1 FOR: Consolidated Graphics, Inc. CONTACT: Ronald E. Hale, Jr. Consolidated Graphics, Inc. Vice President & Treasurer (713) 787-0977 Betsy Brod/Jonathan Schaffer Media:Merredith Ingram/Jennifer Kirksey Morgen-Walke Associates, Inc. (212) 850-5600 FOR IMMEDIATE RELEASE CONSOLIDATED GRAPHICS REPORTS SECOND QUARTER RESULTS Houston, Texas - October 27, 1999 - Consolidated Graphics, Inc. (NYSE:CGX) today announced results for the second quarter and six months ended September 30, 1999. Second Quarter: Sales increased 48% to $152.9 million; Operating income grew 46% to $21.0 million; Net income increased 43% to $10.8 million; Earnings per diluted share increased 26% to $.68 per share. Six Months: Sales increased 59% to $298.7 million; Operating income grew 56% to $41.4 million; Net income increased 53% to $21.5 million; Earnings per diluted share increased 33% to $1.37 per share. Joe R. Davis, Chairman and Chief Executive Officer, commented, "As previously announced, our continued growth and industry-leading profitability were partially offset for the quarter by: the impact of Hurricane Floyd, the timing of the completion of acquisitions, management issues at three of our facilities, and our decision to increase long-term profitability and enhance capacity by exiting a low-margin piece of book printing business. These issues are largely behind us, and we look forward to continuing with our historically strong operating performance, using our solid financial condition to execute our successful operating strategies." -MORE- Consolidated Graphics Reports Second Quarter Results Page -2- Consolidated Graphics, Inc. is the fastest growing printing company in the United States. The Company adds value to its acquisitions through managerial and operational expertise, financial strength and economies of scale. Upon completion of pending acquisitions, Consolidated Graphics will have companies operating in 25 states with annualized revenues in excess of $700 million. For more information, visit the Company's Web site at www.consolidatedgraphics.com. This press release contains forward-looking statements, which involve known and unknown risks, uncertainties or other factors that could cause actual results to materially differ from the results, performance, or other expectations implied by these forward-looking statements. Consolidated Graphics' expectations regarding run-rate revenues assume, among other things, completion of pending acquisitions, general economic conditions, continued demand for its product, the availability of raw materials, retention of its key management and operating personnel, as well as other factors detailed in Consolidated Graphics' filings with the Securities and Exchange Commission. (Table Follows) CONSOLIDATED GRAPHICS, INC. Consolidated Income Statement (In thousands, except per share amounts) Three Months Ended Six Months Ended September 30, September 30, 1999 1998 1999 1998 Sales ............................ $152,886 $103,270 $298,715 $188,370 Cost of Sales .................... 105,294 70,869 205,446 128,883 GROSS PROFIT ................... 47,592 32,401 93,269 59,487 Selling Expense .................. 14,820 10,172 28,911 18,463 General and Administrative Expense 11,817 7,923 22,917 14,542 OPERATING INCOME ............... 20,955 14,306 41,441 26,482 Interest Expense, net ............ 3,017 2,002 5,682 3,473 Pretax Income .................. 17,938 12,304 35,759 23,009 Income Taxes ..................... 7,175 4,800 14,303 8,975 NET INCOME ..................... $ 10,763 $ 7,504 $ 21,456 $ 14,034 Earnings Per Share - Basic ....... $ .69 $ .56 $ 1.40 $ 1.06 Earnings Per Share - Diluted ..... $ .68 $ .54 $ 1.37 $ 1.03 Weighted Average Shares Outstanding - Basic .......... 15,663 13,397 15,364 13,227 Weighted Average Shares Outstanding - Diluted ........ 15,937 13,803 15,644 13,637 # # #